Company Overview

JD Cables Limited is engaged in manufacturing Cables and Conductors, including Power Cables, Control Cables, Aerial Bunched Cables, Single-Core Service Wires, and conductors such as AAC, AAAC, and ACSR. These products are primarily used in electricity transmission and distribution and are manufactured in compliance with national quality standards with certifications including ISO 9001:2015 and multiple IS standards.

Key Highlights

  • 2 Years of Experience
  • 5 BIS Certificates
  • Total Order Book Value: ₹515 Crores as of March 2026
  • 3 Manufacturing Units (1 upcoming in current calendar year)
  • Installed Capacity: Unit I – 6000 Kms, Unit II – 22000 Kms, Unit III – 28,000 Kms (upcoming)
  • Capacity Utilization: Unit I – 82.43%, Unit II – 84.56% (as of FY26)
  • FY26 ROE: 21.70%, ROCE: 23.11%
  • In-house Testing Labs
  • Geographical Presence: Approved vendor for various State Electricity Boards across Assam, Odisha, Jharkhand, Bihar, Manipur, Tripura, Arunachal Pradesh, Madhya Pradesh, Chhattisgarh, Meghalaya, Mizoram, West Bengal, Punjab, Himachal Pradesh, Rajasthan, and Andhra Pradesh

Strategic Diversification into Infrastructure & Power EPC Projects

The company has expanded into Engineering, Procurement & Construction (EPC) segment focusing on:

  • Transmission & Distribution Lines and Substations
  • Solar Power EPC projects
  • Road & Highway Infrastructure
  • Other Infrastructure Projects

Ongoing EPC Project: NH-2 Six-Laning Highway Project (NHDP Phase-V) involving construction of balance works for six-laning of the Bihar–Jharkhand border section of NH-2 (Chordaha to Gohar), including bridge construction and electrical infrastructure works under EPC model.

Management Overview

Leadership Team:

  • Mr. Piyush Garodia - Managing Director, first-generation entrepreneur, graduate of University of Calcutta with 10+ years experience
  • Mr. Rajesh Jhunjhunwala - Whole Time Director, nearly three decades of experience in cable industry
  • Mr. Ganga Sharan Pandey - Non-Executive Independent Director, Chartered Accountant (ICAI) with 28+ years experience
  • Mrs. Twinkle Pandey - Non-Executive Independent Director, qualified Company Secretary (ICSI) with 9 years experience
  • Mr. Pratik Kumar Ganeriwala - Non-Executive Non-Independent Director, BBA from Punjab Technical University with 10+ years electrical business experience

Key Management Personnel:

  • Mr. Hemant Kr. Choradia - CFO, Master's in Business Management from ICFAI University, Tripura with 15+ years experience
  • Mrs. Swati Mittal - Company Secretary, Fellow Member of ICSI and graduate from Delhi University with 10+ years experience

Business Overview

Product Portfolio:

  • Cables & Wires: Revenue Contribution FY26 - ₹25,256.32 Lakhs, FY25 - ₹20,213.27 Lakhs
  • Aluminium Conductors: Revenue Contribution FY26 - ₹8,152.35 Lakhs, FY25 - ₹4,839.31 Lakhs (~24% revenue contribution)

Product types include LT XLPE/PVC Insulated Power Cables, LT XLPE/PVC Insulated Control Cables, LT Aerial Bunch Cables (ABC), Single-Core Service Wires, and Aluminium Conductors (ACSR, AAAC, AAC).

Manufacturing Capacity

| Facility | Product | FY2026 Installed Capacity (Kms) | FY2026 Production (Kms) | Capacity Utilization (%) |

| Unit I | Cables and Conductors | 6,000 | 4,946 | 82.43% |

| Unit II | Cables and Conductors | 22,000 | 18,603 | 84.56% |

Financial Performance

H2 FY26 Highlights (in ₹ Lakhs):

  • Revenues: 24,333.62 (vs 14,305.06 in H2 FY25)
  • Other Income: 41.85 (vs 13.25 in H2 FY25)
  • Total Income: 24,375.47 (vs 14,318.31 in H2 FY25)
  • EBITDA: 2,886.61 (vs 1,895.33 in H2 FY25)
  • PAT: 1,979.86 (vs 1,171.26 in H2 FY25)
  • EBITDA Margin: 13.24%
  • PAT Margin: 11.84%

Full Year Financials (in ₹ Lakhs):

| Particulars | FY26 | FY25 | FY24 |

| Revenues | 36,459.15 | 25,052.58 | 10,083.33 |

| Other Income | 60.21 | 16.93 | 2.11 |

| Total Income | 36,519.36 | 25,069.51 | 10,085.44 |

| EBITDA | 4,811.01 | 3,429.44 | 722.21 |

| PAT | 3,172.46 | 2,202.48 | 457.98 |

| EBITDA Margin | 13.17% | 13.68% | 7.16% |

| PAT Margin | 8.69% | 8.78% | 4.54% |

Balance Sheet (in ₹ Lakhs as of FY26):

  • Share Capital: 2,255.11
  • Reserves & Surplus: 12,361.94
  • Net Worth: 14,617.05
  • Total Assets: 23,735.00
  • Fixed Assets: 2,639.65
  • Inventories: 7,886.34
  • Trade Receivables: 9,556.15
  • Cash & Bank Balance: 54.01

Industry Overview

India Wires & Cables Market valued at USD 9.32 Billion in 2024, expected to reach USD 17.08 Billion by 2032 with CAGR of 7.94% (2025-2032). Key growth drivers include power transmission & distribution infrastructure expansion, government-led electrification, renewable energy projects, industrial manufacturing growth, and urbanization.

Growth Strategy & Competitive Edge

Competitive Advantages:

1. Strong Industry Demand & Market Presence

2. Experienced Promoter & Management Team

3. Operational Excellence & Scalability

4. Raw Material Sourcing & Cost Efficiency

5. Sustained Growth & Financial Performance

SWOT Analysis:

  • Strengths: Strong industry demand, diverse product portfolio, technological expertise, established supply chain
  • Weaknesses: Competitive market, dependency on raw material prices, order bunching by utilities
  • Opportunities: Growing infrastructure development, technological advancements, sustainability trends, government initiatives
  • Threats: Raw material price volatility, economic slowdowns, supply chain disruptions, technological disruptions

Stock Data (as of June 19, 2026)

  • BSE Code: JDCABLES | INE14VP01014
  • Share Price: ₹226.70
  • Market Capitalization: ₹511.23 Crore
  • No. of Shares: 2,25,51,112
  • Face Value: ₹10.00
  • 52-week High-Low: ₹249.40 – ₹130.00
  • Shareholding Pattern: Promoter & Promoter Group 70.00%, Public 30.00%